The Free Insurance Covers That Cannot Be Missed!
BENGALURU: Insurances have become an essential part of our busy lives.
Business Today has come up with a list of insurance covers, which you may have missed in the hectic schedule of life. Let us have a look.
BANK DEPOSITS
Bank deposits are often considered as the real saving that can help you in time of need. What most people don’t know is the fact that bank deposits are insured.
Your bank deposits are insured up to 
1 lakh against default by banks. This is for all deposits such as savings, fixed, current and recurring.
The cover is offered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India or RBI. The insurance amount is provided at the time when the bank is unable to pay back the amount due to various reasons.
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